TAMPA, Fla. (AP) — TAMPA, Fla. (AP) — Bloomin’ Brands Inc. (BLMN) on Wednesday reported first-quarter net income of $55.7 million.
The Tampa, Florida-based company said it had net income of 65 cents per share. Earnings, adjusted for one-time gains and costs, were 67 cents per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.
The owner of Outback Steakhouse and other casual dining spots posted revenue of $1.06 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $1.04 billion.
For the current quarter ending in June, Bloomin’ Brands expects its per-share earnings to range from 27 cents to 32 cents.
Bloomin’ Brands shares have fallen almost 7% since the beginning of the year. The stock has declined 28% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BLMN at https://www.zacks.com/ap/BLMN
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